Peregrine Capital Management LLC lifted its stake in shares of First Horizon National Corp (NYSE:FHN) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 551,403 shares of the financial services provider’s stock after acquiring an additional 8,097 shares during the period. Peregrine Capital Management LLC’s holdings in First Horizon National were worth $5,492,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FHN. Guggenheim Capital LLC raised its holdings in shares of First Horizon National by 3.8% in the 4th quarter. Guggenheim Capital LLC now owns 783,527 shares of the financial services provider’s stock worth $12,975,000 after purchasing an additional 28,420 shares during the period. Advisors Asset Management Inc. grew its position in shares of First Horizon National by 92.0% in the 4th quarter. Advisors Asset Management Inc. now owns 11,306 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 5,418 shares in the last quarter. AXA acquired a new position in shares of First Horizon National in the 4th quarter worth approximately $555,000. Geode Capital Management LLC grew its position in shares of First Horizon National by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 3,778,942 shares of the financial services provider’s stock worth $62,577,000 after acquiring an additional 248,187 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in First Horizon National by 7.7% during the 4th quarter. Macquarie Group Ltd. now owns 216,163 shares of the financial services provider’s stock valued at $3,579,000 after purchasing an additional 15,363 shares during the period. Hedge funds and other institutional investors own 94.72% of the company’s stock.
FHN opened at $9.27 on Friday. First Horizon National Corp has a one year low of $6.27 and a one year high of $17.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.93 and a current ratio of 0.95. The stock’s fifty day moving average is $9.51 and its 200-day moving average is $10.99. The company has a market capitalization of $2.89 billion, a PE ratio of 9.97 and a beta of 1.60.
First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.01). The firm had revenue of $511.61 million during the quarter, compared to the consensus estimate of $477.52 million. First Horizon National had a return on equity of 7.45% and a net margin of 13.06%. During the same period in the prior year, the firm posted $0.42 EPS. On average, equities research analysts forecast that First Horizon National Corp will post 0.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend is Thursday, September 10th. First Horizon National’s payout ratio is 36.14%.
Several analysts have weighed in on FHN shares. UBS Group lifted their target price on First Horizon National from $10.50 to $11.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Zacks Investment Research downgraded First Horizon National from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a research note on Monday, July 6th. Raymond James cut their target price on First Horizon National from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. ValuEngine raised First Horizon National from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Finally, Evercore ISI raised First Horizon National from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $9.00 to $11.00 in a research note on Monday, July 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. First Horizon National presently has a consensus rating of “Buy” and a consensus target price of $12.64.
First Horizon National Profile
First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.
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